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Goldman Sachs Bitcoin As Money Paper Leaked
Goldman Sachs, one of the US’s largest financial firms and a worldwide leader in investment advice, has had an internal memo outlining its view on the future of Bitcoin leaked.
In it, one of the most respected banks in the world lays out a complex picture of the true value of digital currencies. While it doesn’t believe crypto to be a purely speculative vehicle — as many other traditional financial analysts have charged — it also doesn’t see it as the never-ending money train pathway to quadruple digit returns that many of its staunchest advocates claim it to be.
Similar To Investing In Precious Metals
While adoption of crypto currencies as a banking method has been increasing amongst the masses in all kinds of places including the online casino industry, it continues to be met with major skepticism by those in the traditional financial sector.
What makes this leaked internal memo so compelling then, is that it is the first signs of a thawing — and some might say resignation — to the fact that crypto is not just a fly by night tulip bubble, but a real and stable solution in a new, digital world that is here to stay.
To that effect, Goldman’s memo discusses the idea that crypto currencies can be used to hold value over the long term, offering less in the way of skyrocketing returns than in a place where only can be safely stashed to weather crises in fiat currencies.
“Our working assumption is that long-run cryptocurrency returns should be equal to (or slightly below) growth in global real output, [and that] digital currencies should be thought of as low/zero return or hedge-like assets, akin to gold or certain other metals,” the report said.
The Suits In Finance Finally Catch Up
News that traditional banking is finally coming around the reality that has been hitting them in the face for several years is welcome new.
Online casino players have already been using crypto for years as an alternative banking method — a trend that has shown no signs of slowing down. It’s nice to see the ‘professionals’ are finally catching up with the reality on the ground.
It just goes to prove what online casino players already know — where there’s risk, there’s reward.